Lake Madison, South Dakota is a small city with a population of 57075. It is located in the eastern part of the state and is known for its small-town charm. The cost of living is quite affordable compared to other cities in the region; two bedroom rent averages at $760, much lower than the US average of $1 430. The grocery cost index in Lake Madison is 104 versus 100 in the US.
The city has a range of businesses and attractions that draw visitors from around the area. Local companies include Lake Madison Auto Repair, J&J Grocery, Daniel's Hardware Store, and Town Salon & Spa. Popular attractions include Captain’s Cove Marina, Brookside Golf Course, and Lake Madison Beach. Visitors can also enjoy picnicking or boating at White Swan Park or fishing on one of several nearby lakes and streams. Whether looking for outdoor activities or local business services, there are plenty to choose from in Lake Madison!
Lake Madison (zip 57075) has an unemployment rate of 3.0%. The US average is 6.0%.
Lake Madison (zip 57075) has seen the job market decrease by -2.8% over the last year. Future job growth over the next ten years is predicted to be 28.5%, which is lower than the US average of 33.5%.
Tax Rates for Lake Madison (zip 57075)
- The Sales Tax Rate for Lake Madison (zip 57075) is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Lake Madison (zip 57075) is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Lake Madison (zip 57075)
- The average income of a Lake Madison (zip 57075) resident is $65,595 a year. The US average is $37,638 a year.
- The Median household income of a Lake Madison (zip 57075) resident is $92,566 a year. The US average is $69,021 a year.